Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1887-09-05
THE WILLARD PURCHASE.

A Relief that the Ex- Railr0ad Magnate
Wtil Regain His Old-Time Prestige.
New York, Sept. RAILROAD men and
stock spectators are still at sea as to
the exact meaning of Henry Wizards
parchase of Oregon railway and navi-
CATION securities yesterday. II must be
raid, however, that there was little or no
excitement in tine vicinity OF the offices
occupied by the ex-Villard properties
to-day, and every one seemed to be per-
fectiy happy. There seems TO be q gem
eral belief that Mr.. Willard had simply
found a good chance for q profitable In
vestlRRtlon of the capital entrusted to
him and that his acquisition of such
q BLOCK of took woulu result in moth
ing more than Ills election as q director
of the Oregon companies. But men
who Know the restless nature OF Henry
Willard smiled at she suggestion that
he would be content to temalR u nonsn-
tlty In any corporation, and the rumor
war circulated and believed by nauy
that Mr.. Willard would ere long succeed
Mr.. Eirlah Smith ss president OF the
Oregon Transcontinental. In fact, it was
stated openly in some quarters that Mr.
Willard only came krGard to assist the
navigation company On the condition
that he should be elected to the presi-
dency of the Transcontinental. These
are only rumo.s, OF course, as are aIso
the statements that the Transcontinental
people we're sorely pressed for ready
money, but there are always many peo-
pie ready and willing to believe even
the most sensational reports, and when
b people interested in the deal shake
their heads when asked Tor infotmatiop,
they must not complain when
the ste ok spectators circu-
late all sorts OF stories about them. The
Northern Paciic people appear almost
indifferent In the matter, and there is
an appearance of quiet satisfaction at
the turn affairs have taken, while at the
Transcontinental office even the clerks
looked nervous and anxious. The great
question suggested itself to every one
interested in the Oregon and Northern
Pncific roads, and one which they are
almost afraid to give utterance to is, is
Henry Willard going to resign his old
prestige with the road he at one time
controlled? And if he does, what will
he do with some of the men holding
high positions 10 these roads who jumped
on him when he was down? There are
come Wall street men who take a yery
hopeful view of the Willard purchase.
Moore & Schley, the brokers, say
that the transaction cleans up
the Oregon railway and naviga-
ton property, as we'll the syndicate that
purchased the bonds referred to from it
while the sele Of the Oregon railway and
NAVIGATION stock by the Oregon tranaoon-
tinental gives the company sufficient
money to pay ell its floating debt, which
has not been provided tor in the
9 Alateral trust notes, which ran to Dec.
81, 1888. It places the Oregon Trans
continental company in a better oondi.
ton financially than it has been for a
long time and where il is beyond the
attacks Of its adyersaries. AS bearing
upon the general market, this transaction
means the transfer Of about ST, O0O. 900
from Germany to this country, and 1t
is also indicative of q degree OF conf
denee in our securities abroad which
ought to have q good effect upon do
mestic holders and investors.